On 30 September 2026, the Financial Conduct Authority (FCA) published Finalised Guidance 26/9: Non-Handbook guidance on COREPRU 7: Overall risk assessment (FG26/9).
Background
In June 2026, the FCA consulted on the proposed Non-Handbook Guidance (NHG) on COREPRU 7: Overall risk assessment which sets out how firms may complete the overall risk assessment required under COREPRU 7. The FCA received 8 responses from a range of stakeholders, including trade bodies, cryptoasset firms, consultancies and private individuals. The FCA have made a small number of substantive changes to the NHG to reflect the feedback, and a number of changes to improve clarity and readability.
COREPRU brings together core prudential requirements common across the different types of firms the FCA prudentially regulates. Among those prudential requirements is an obligation to perform an overall risk assessment. The FCA has developed this general guidance to help firms carry out their overall risk assessment. It illustrates the comprehensive, integrated practice that takes a firm from understanding its business model, to articulating its risk appetite, setting its financial resource thresholds and implementing a robust framework for managing financial resources to minimise risks that may cause material harm. It also covers planning for winding down operations, where necessary, without causing material harm to customers and the UK market.
Next steps
The guidance in FG26/9 comes into force on 25 October 2027.